20 sats \ 6 replies \ @Undisciplined 8 Jun \ on: Tax Hack - BTC vs. BTC borrowing bitcoin
I've wondered about this on occasion. Most people who DCA or otherwise regularly add to their stacks will usually have some that they acquired above the current exchange rate.
It seems like there could be a neat software innovation that spends in a way that minimizes capital gains owed.
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69 sats \ 4 replies \ @quark 8 Jun
The FIFO rules(first in first out) don't give you much options to minimize capital gains. It is a nightmare. Maybe in some countries there are no FIFO rules. I don't know.
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0 sats \ 3 replies \ @Undisciplined 8 Jun
That's what I wasn't sure about. If sats are perfectly fungible, like dollars or shares, then there's no getting around that.
Could you keep track of which specific bitcoin you're spending, though, and argue they are not perfectly fungible?
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21 sats \ 2 replies \ @nyan OP 8 Jun
Finally something ordinals are good for hahaha
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0 sats \ 1 reply \ @Undisciplined 8 Jun
exactly
I don't know the technical side of this stuff well enough to know if what I'm suggesting is even remotely feasible, but it seems like it could be if we're talking about uniquely identifiable units.
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21 sats \ 0 replies \ @quark 8 Jun
interesting. I don't know if it would be feasible either. In theory yes. However I can imagine how it would go trying to explain it to a taxman inspector LOL
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42 sats \ 0 replies \ @nyan OP 8 Jun
Nice thinking! Will be pondering that a bit!
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